Iamgold Corporation $IAG Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 24.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,068,910 shares of the mining company’s stock after acquiring an additional 206,755 shares during the period. Hillsdale Investment Management Inc.’s holdings in Iamgold were worth $17,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in IAG. Tsfg LLC acquired a new position in Iamgold in the third quarter worth $26,000. Banque Transatlantique SA acquired a new position in Iamgold in the second quarter worth $26,000. Global Retirement Partners LLC acquired a new position in Iamgold in the fourth quarter worth $33,000. FNY Investment Advisers LLC acquired a new position in Iamgold in the fourth quarter worth $38,000. Finally, LOM Asset Management Ltd acquired a new position in Iamgold in the fourth quarter worth $49,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

IAG has been the subject of a number of research reports. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Scotiabank lifted their price objective on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Price Performance

Shares of NYSE IAG opened at $17.91 on Friday. Iamgold Corporation has a fifty-two week low of $6.68 and a fifty-two week high of $24.87. The firm’s 50-day simple moving average is $17.92 and its 200 day simple moving average is $18.08. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The stock has a market cap of $10.35 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.85 and a beta of 1.26.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Equities analysts expect that Iamgold Corporation will post 2.24 EPS for the current year.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.